Have 1 BTC in alts should I transfer all to BTC

[Rickeo]

Hi all,

Looking for some advice.

Here is my predicament, I have around 1 BTC that is spread out, some in BTC some in ETH, BCH, BNB & other altcoins.

My question is, do I keep my portfolio diversified or do I trade it all in for 1 whole BTC and then build up my alts again over time.

Here's my biggest issue and I know this will probably cause some controversy and I'll have a lot of people disagree with me BUT:

I don't believe in the long term success of bitcoin

Honestly, in my opinion, the advantage is has right now is that it's a first mover, the first Crypto and has HUGE brand awareness.

Do I believe BTC will ever reach zero or be worthless? No, do I think it can reach £100k per coin or more, potentially YES but I believe that the reasons it will get there are all wrong. I believe it will get there purely on it's reputation, brand awareness and it being the first and biggest crypto. Utility wise, I just don't think it's a strong project anymore.

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

I think because of the amount of money invested, it will continue to grow because of the reasons I mentioned above, because of speculation, because of FOMO and a wide range of other factors.

Obviously, I could be wrong and I think just brand awareness and being the first to market will be enough to watch Bitcoin keep climbing but if I were a gambling man and had to take a shot in the dark right now, I'd say that in 50 years time, I don't think BTC will be sat at #1 on CMC.

So what would you guys do in my situation, would I be foolish to not trade it all in for 1 BTC and then build up my alts from future savings or do I keep it diversified like I currently have.

There was a time when I was fired up about Bitcoin, everything it stood for, privacy, low fees, fast transactions how it could revolutionise the economy around the world and disrupt the banking sector and help those living in poverty and developing countries.

I still have great respect for Bitcoin, every coin or token that has followed has Satoshi and Bitcoin to thank but when I read the previous sentence, I don't believe Bitcoin actually does what it set out to do anymore, it's neither fast or cheap and it's not transforming the lives of those living in poverty. I'm just not passionate about Bitcoin and do see it as just a store of value now.

Isn't that that wrong mindset to transfer my alts all into BTC?

What should I do?

[pushups44]

It sounds like you are trading intermediately or as a swing. It's hard to predict this market, but generally the alts perform better during bull markets, and bitcoin tends to lead the charge and be more stable. While you may gain more percentage-wise with the alts mentioned, bitcoin is more of a sure bet according to many analysts. It's really up to you, because there is always a chance bitcoin may take up a greater percentage of the total market than previously due to investors fleeing to safety. No one can give you the right answer, because the market is too uncertain.

[mk4]

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

Here's where most people are wrong. I get it, being slow is annoying when trying to transfer funds without you willing to pay almost a dollar, but not because it's quite slow right now(compared to alts), it doesn't mean it will be slow forever. Technology moves forward and people are definitely working on making bitcoin better. As with more secure, I heavily disagree. Name one coin that's "more secure" and more decentralized than bitcoin.

As with converting all your alts to BTC though, in a trading perspective, it depends on what you're going for. If you want to have a much safer investment, then sure move them to BTC. But if you're more of the high risk high reward gambling sort of guy, then alts are for you. I'm personally holding a decent number of coins for trading purposes, but majority of my funds are still in BTC to slightly decrease my risks(as if holding BTC isn't risky enough).

[pooya87]

you shouldn't even be asking this question and instead do whatever your own logic tells you even if it is wrong. this is not a financial advice forum and people will always give you biased opinion. so if you really  "don't believe in the long term success of bitcoin" then don't convert anything to bitcoin and continue bag holding altcoins.

There's countless coins out there that do what BTC does now but better, cheaper, faster, more secure, more utility etc etc.

unless you have actually used and tested any of them you don't get to say this just based on their advertisement. the fact is they "seem" better but in reality when you test them you can see how worse they are.

[Ailmand]

It depends on your assessment of the market. No one can give you a definite answer to this because each of us has it's own strategy and preference when it comes to bitcoin and alt.

Whenever bitcoin starts moving and recovering I usually put most of my money on bitcoin and this time I sell most of my shitcoin since some alts are affected by this. When bitcoin price is stable, I watch out for alts because some alts are profitable during this time. Well, when the market starts being bearish, I diversify my investment and add up some more alts and bitcoin for future purposes.

[ranman09]

Well, based on your statements the best bet would be, so you would not hurt yourself after all these and "bet" is the word because nothing is sure, to go diversified. In any markets a trader never goes all in. It can be most of the funds are in an industry you really believed. So if you don't believe in Bitcoin anymore keep diversified. Do not lose Bitcoin though, chances are you are wrong.

[CryptoBry]

It sounds like you are trading intermediately or as a swing. It's hard to predict this market, but generally the alts perform better during bull markets, and bitcoin tends to lead the charge and be more stable. While you may gain more percentage-wise with the alts mentioned, bitcoin is more of a sure bet according to many analysts. It's really up to you, because there is always a chance bitcoin may take up a greater percentage of the total market than previously due to investors fleeing to safety. No one can give you the right answer, because the market is too uncertain.

In my opinion, the best thing to do is to stake half of one's portfolio with Bitcoin and then the rest with many good altcoins out there. Now, again this is my own opinion and I am not a good trader or investor myself. Bitcoin is not perfect and certainly there can be better alternatives on the market right now but this is a matter of trust and patronage -- a better alternative is nothing if only a few are into it. We have to remember that there have been outstanding products that did not make it to the market due to many factors -- the same thing with those Bitcoin alternatives. And when we are talking about bull run, it is always in relation to Bitcoin.

[Genemind]

No one could provide a firm advice for you. Since you have your own belief and you don't trust in a long term success of Bitcoin, then what's the sense of buying and holding more?
It depends on how you are going to handle both altcoins and Bitcoins that you have.

[btc_angela]

Rule of thumb here, never asked for financial advises because no one is expert in this field. Heck you can even get different opinions and who are you going to follow. In the first place you have made the decision to stick to alts so why move now?

[bL4nkcode]

You're asking suggestions while you created already your conclusions. If you "don't believe bitcoin for long term success", same thing, don't convert all your coin to bitcoin since there are many alternatives to cash your coins. And continue to trade alts for good.

[AmirSolo]

if you don't believe in Bitcoin long term activity and Succes then i think you should not even invest in it! try stocks.
but if you think as Satoshi think  then you will get to the moon with BTC.

there is up and down in the prices of all altcoins and bitcoin so you must decide to trade or just hodl them
in my opinion if you can be a trader on these days that bitcoin price climbs with some corrections keep your portfolio with 50% BTC and 50% with altcoins that have potential to grow, check on the analysis.
Cheers.

[romero121]

As majority of the users mentioned it is always a good pick to go upon ones own research. As the market is completely unpredictable anytime the market will change in the uptrend or down trend. Having one bitcoin in alts is good if the assets were the top listed altcoins. As the market of bitcoin have grown without big growth with altcoins it is good to invest at least a little on altcoins.

[avikz]

Lets looks at both sides of the story to give you a better perspective.

1. Diversification is recommended if I look from traditional finance perspective
2. Crypto is not traditional financial asset

Today we have more than 2000 cryptocurrencies available in the market. This number is according to coinmarketcap website and we have at least another 200 different cryptos which are not listed there! Have you ever though what is the utility of these coins? Frankly speaking, I don't find any utility of these coins in my life so for me it makes sense to consolidate everything in one major crypto, bitcoin!

Now, if you have seen the market trend, you will see there is only one coin that is mainly driving the entire market. When bitcoin rises, majority of altcoins also rise and vice versa. IT has never happened that BCH or ETH is driving the volume or the market, because they are so small to drive such immense volume! From my experience of trading, I would recommend you to hold only Bitcoin and ETH and consolidate rest of the coins in to either of these two! Because these are two major coins that are capable to turn the tide! I don't see any other coin has this capability.

I wouldn't have invested for long term in altcoins if I were you! I only use altcoins for trading purpose and enjoy the fluctuations of price, I don't HODL altcoins!

[funchiestz]

What should I do?

In fact, this depends entirely on the trading method you choose. If you made a profit from your investment. You may think of profit realization. Don't remember altcoins can get value quickly and loose value quick. So it is your choice what you want to now. If I were you, I will definitely keep my balances of %50 in BTC.

[Afnan_faizah]

I suggest you to only diversify your fund only in BTC and ETH. There are too many altcoin that exist, people will forget altcoins which not popular. So my advice is if you want to get profit in the next pump of bitcoin then you should sell all of your altcoins except ETH then buy more bitcoin. I hope you can think more realisticaly.

[antisocial77]

You can wait btc dominance to %51-52.im afraid it may raise to above %60, if its happen alts will make new all times lows.other scenerio is btc gors between 6k-5.5k for a while, its the spark for alts

[vatt55]

I think you're doing well, investing in some alts like ETH, BCH, BNB is a great choice. I also think that bitcoin will be overtaken by other currencies, just look at the cost and time of a transaction. With other alts the costs and times of a transaction are much lower

[Beerwizzard]

First of all all newb / jr.members on this forum that claim they got 1-100 bitcoins are actualy are just spammers so you have to prove that you've got those coins.
Second is that everything depends on what you want to achieve. If you need to get some bigger profit then you may buy all those shitcoins and wait for pump. If you want to keep your money safe then just buy BTC. It have a larger cap and during all recent price changes it's correction was always not that hard that the other coins had. So if you are goind to hodl instead of speculation then buy BTC.

[LuckyBtc]

One's portfolio should be diversified, But make sure Bitcoin % is higher than 50%. You never know which altcoin may fail. Bitcoin will be the king for eternity, I don't think any altcoin will be able to take #1 position. Yeah it may be slow and has higher fees now but solutions are currently getting built for that like lighting, There will more second layer solutions to tackle such problems.

[Caladonian]

From those selections of alt you mentioned most of them can be hold for long term and no need to change anything, what you needed is the patience to wait and the trust that the market will bring good outcome from your investment, we don't have any sure predictions what will future bring to us, but by believing with your own assessment it will add good confidence to hold and wait.

You should decide according to your own observations, you can get some answer which will give you some good insight but in the end of the day,
It's you who needs to manage everything for your investment.